Which of the Following Is True of the Hominid Species

question 7

Multiple Choice

Which of the following is true of the hominid species?

• A) Homo sapiens left Africa around 1.7 million years ago.
• B) Homo erectus made tools from stone.
• C) Homo sapiens eventually killed off Homo neanderthalis through armed conflicts.
• D) Modern humans are known as Homo sapiens.
• E) Homo sapiens evolved directly from Homo neanderthalis.

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Definitions:

Conventions

Established practices or standards in accounting that guide the preparation and presentation of financial statements.

Materiality Principle

An accounting principle that states financial reports should include all items significant enough to influence the decision-making process of an individual reading the report.

Charging to Expense

The process of recognizing a cost as an expense in the income statement during the period in which it is incurred.

Historical Cost Principle

An accounting principle requiring all financial items to be recorded based upon original cost, without adjusting for inflation or market value.